HomeMy WebLinkAbout12/04/1963 Special Meeting1
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SPECIAL MEETING, DECEMBER 4, 1963
The City Council met at the hour of 1:30 P.M. pursuant to a call for bids and notice of special
meeting as announced by the Mayor at the regular meeting of the Council on December 2, 1963 and
written notice as given by the City Clerk, for the purpose of opening and considering bids for
the purchase of $1,500,000.00 of Water a S wer Revenue Bonds. Mayor Larson, Councilmen Brazier
Lemon, Lynch and Munger and City Manage rW present on roll call. Councilman Robinson present
after 1:50 P.M. and City Attorney Andrews present after 1:45 -P.M. Councilman Kurbitz absent. Mr.
Robert 0. Yeasting, representing Wm. P. Harper & Son & Company, Financial Advisers for the City
of Yakima, also attended this meeting.
The following bids were read by the Clerk of the Council and considered by the City Council:
Blyth & Company, Seattle Washington 3.5049% Effective Interest
John Nuveen & Company - Chicago,Illinois 3.5360% it
Marshall & Meyer, Inc. - Seattle -Washington 3.5230% " rf
Merrilll Lynch, Pierce, Fenner & Smith, Inc.,
Seattle 3.53143% 11
These bids were then checked for errors by the City Finance Director, Mr. Ray Mc Graw and Robert
0. Yeasting, of Harper & Son.
Mr. William J. Rex, representative for John Nuveen & Company, Inc., the high bidder, being presen
at this meeting, it was MOVED by Lemon, seconded by Lynch that the certified check in the amount
of $30,.000,00 "�n'-'., which accompanied this company's bid, be returned to Mr. Rex: carried, Brazier
Larson, Lemon, Lynch, Munger and Robinson voting aye by voice vote. Kurbitz absent.
The bids having been checked, it was announced by Mr. Yeasting that the bid of Blyth & Company is
the lowest and best bid with an effective interest rate of 3.5049%. MOVED by Lemon, seconded by
Munger that the bid to purchase_$1,500,000.00 of Water and Sewer Revenue Bonds, be awarded to Blyl h
and Company: carried, Brazier, Larson, Lemon, Lynch, Munger and Robinson voting aye by voice votE
Kurbitz absent.
It was then MOVED by Lynch, seconded by Munger that the certified checks in the amount of $30,000,
which accompanied the bids of Marshall & Meyer, Inc., and Merrill Lynch, Pierce, Fenner & Smith Ii
be returned to these firms: carried, Brazier, Larson, Lemon, Lynch, .Munger and Robinson voting
aye by voice vote. Kurbitz absent.
There being no further business to be considered at this special meeting, it was MOVED by Lynch,.
seconded by Munger that we- do now adjourn at the hour of 2:20 P.M:. carried, Brazier, Larson,
Lelon, Lynch, Munger and Robinson voting aye by voice vote.
ATTEST:
A